| Vocabulary | Using Money | Barter and Money | Making Choices | Tricks of the Trade |
| 10 | 10 | 10 | 10 | 10 |
| 20 | 20 | 20 | 20 | 20 |
| 30 | 30 | 30 | 30 | 30 |
| 40 | 40 | 40 | 40 | 40 |
| 50 | 50 | 50 | 50 | 50 |
| Final Question | ||||
Something you give up to get something else that you want more is called ____.
Something you give up to get something else that you want more is called ____.
opportunity cost
When there are not enough goods, there is a ____ of them.
When there are not enough goods, there is a ____ of them.
scarcity
A bank pays _____ in exchange for keeping money.
A bank pays _____ in exchange for keeping money.
interest
____ is a plan for using money.
____ is a plan for using money.
Budget
What is money that people earn for work?
What is money that people earn for work?
income
What is money?
What is money?
Money is anything widely accepted in exchange for goods and services.
How do people pay for goods and services if they do not use money?
How do people pay for goods and services if they do not use money?
People barter or exchange goods and services directly.
When does barter work best?
When does barter work best?
Barter works best when each person has something the other person wants.
Why do people make budgets?
Why do people make budgets?
People make budgets to decide how to use their money.
How do banks help people?
How do banks help people?
They help people to save and earn interest on their money.
In what ways are barter and money alike?
In what ways are barter and money alike?
Both money and barter are ways for people to buy goods and services.
In what way are barter and money different?
In what way are barter and money different?
Money is small and its value is agreed upon.
Why do people use money more than barter?
Why do people use money more than barter?
Money is easier to carry and can be used whenever someone is ready to sell.
Name two ways people can earn money.
Name two ways people can earn money.
By working and by earning interest from the bank
When bartering, what happens if nobody wants the item you want to trade?
When bartering, what happens if nobody wants the item you want to trade?
You could not make a trade and would have to find another item.
What should you think about before buying an item?
What should you think about before buying an item?
Think about the price of the item and how much money you have saved.
What does opportunity cost mean?
What does opportunity cost mean?
It means that you must give up the possibility of buying one thing when you buy another.
What are some ways that stores compete to win buyers?
What are some ways that stores compete to win buyers?
They compete by lowering prices, having more selection, and better quality.
What happens to prices when there is competition between sellers?
What happens to prices when there is competition between sellers?
The prices will be lower.
What does it mean when there is a scarcity of something?
What does it mean when there is a scarcity of something?
There is not much of it available.
A movie star or sports hero says that this juice is great. What type of ad is this?
A movie star or sports hero says that this juice is great. What type of ad is this?
Superstar Advertisement
This ad tells you that everyone has one of the product. What type of ad is this?
This ad tells you that everyone has one of the product. What type of ad is this?
Bandwagon Advertisement
This ad shows an attractive person enjoying the product. What type of ad is this?
This ad shows an attractive person enjoying the product. What type of ad is this?
Friendly Face Advertisement
This ad shows a person getting relief from an itch using the product. What type of ad is this?
This ad shows a person getting relief from an itch using the product. What type of ad is this?
Before and After Advertisement
True or False; All advertisements give facts about the products they sell.
True or False; All advertisements give facts about the products they sell.
False
When there is a scarcity of a product, what happens to the price of the product?
When there is a scarcity of a product, what happens to the price of the product?
The price will increase or go up.
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